Moderna announces program, financial updates at Analyst Day event

Moderna (MRNA) announced program and financial updates at its Analyst Day event. The updates include mRNA pipeline progress and a three-year plan for strategic growth. Over the near term, Moderna will continue to build a large seasonal vaccine franchise targeting at-risk populations and propelling the Company to 2028 cash breakeven. Investments in late-stage oncology and rare disease programs set the stage for additional growth in 2027 and 2028, with early-stage pipeline investments expected to mature in 2029 and beyond. Since 2022, the Company exited eight contract manufacturers, announced new drug product capabilities in the U.S., and added three Moderna-built and managed facilities in the UK, Canada and Australia. Increased volume, manufacturing efficiency and waste reduction across Moderna sites is expected to drive a projected 10% improvement in gross margins over the next three years. Other key updates: Expects to expand seasonal vaccine franchise from three to up to six approved products by 2028; Targets readouts from nine ongoing Phase 2 and Phase 3 clinical studies in its oncology pipeline, including three Phase 3 programs for intismeran autogene; Further improves 2026 and 2027 expected GAAP operating expenses by approximately $0.5 billion each year on path to targeted cash breakeven in 2028; discontinuation of four programs in its pipeline.